MOSST Payments
 | |
| Company type | Private |
|---|---|
| Industry | Financial services |
| Founded | 2015 |
| Headquarters | , |
| Products | Payment system |
| Website | www |
MOSST Payments is a Ukrainian payment system that provides a money transfer system using debit and credit cards as well a system for accepting cards and a QR code payment system. Both banks and non-bank financial institutions participants in the payment system.[1]
History
[edit]The National Bank of Ukraine registered MOSST Payments system as a "Payment Service Infrastructure Operators" on June 16, 2015 (certificate No. 24). The company was originally called "FC" VAP-KAPITAL".
The personal data of system’s clients is protected in accordance with the PCI DSS bank card security standards.[2][3]
The main products of the payment system are:
- Money transfer system — money transfers between Ukrainian bank cards[4]
- Reader — service for accepting payment cards (in development);[5]
- Code — service for paying cash payments using a barcode (in development).[6]
Money transfer system
[edit]MOSST allows users to make money transfers between cards of any Ukrainian banks.[2] Users can transfer money without pre-registration.[2]
The system allow money to be sent in four different ways:
- Using MOSST-tag (a unique user name in the system)
- Directly to another user's card
- By e-mail address
- By mobile phone number
The last three options do not require registration. When money is sent to an email or mobile phone number, the recipient receives a unique code to complete the transaction. Recipients choose the bank card to receive a transfers themselves. The sender does not need to know the number of the recipient's bank card, which greatly simplifies the transfer process.[7]
After sending the transfer, the recipient receives a message stating that the money is waiting for them. MOSST Premium account users have access to additional features of the program: biometric face or fingerprint recognition on mobile devices, the history of transactions, saved receipts and bank cards This allows a user to skip entering 16-digit bank card number and card information.[2]
References
[edit]- ^ "MOSST Payments" (in Ukrainian). National Bank of Ukraine. Retrieved 2017-05-22.
- ^ a b c d "Competition is increasing: a new money transfer service MOSST is launched in Ukraine" (in Russian). PaySpace. April 21, 2017.
- ^ "LEMAN International Law Group – legal counsel for MOSST Payments payment system" (in Ukrainian). Юридична Газета. May 16, 2017.
- ^ "MOSST – money transfer system". Retrieved May 24, 2017.
- ^ "MOSST Reader — Service of acceptance of payment cards". Retrieved May 24, 2017.
- ^ "MOSST Code – Service for paying cash payments using a barcode". Retrieved May 24, 2017.
- ^ Denys Zaychenko (May 17, 2017). "Review of MOSST application - money transfers on iOS and Android" (in Russian). Root Nation. Retrieved May 24, 2017.